U.S. Freezes $30 Billion in Gadhafi's Assets

By

Jay Solomon And

Keith Johnson

Updated March 1, 2011 12:01 a.m. ET

WASHINGTON—The U.S. Treasury Department froze $30 billion in assets controlled by Libyan leader Moammar Gadhafi and his family in what the Obama administration said was the single largest seizure of foreign funds in American history.

U.S. officials said Monday the Treasury's action was a crucial step to further increasing pressure on Col. Gadhafi to give up power in Tripoli, amid signs that his security forces have intensified a...